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201205416 If Borrower [vls to maintain any of the coverages described above. Lender may obtain insimnce coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section i shall become additional debt of Borrower secured by this Security Instrument, These amounts shalt bear interest at the Note rate from the date or disbursement and shall be payable, with such interest- upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lenders right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains way form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Properly, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender maty make proof of toss if not made promptly by Borrower. Unless Lender and Borrower oihenvise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of 1110 Property; if the restoration or repair is ecanomically feasible and Lender's security is not lessened During such repair and restoration period, Lender shall have the right to hold such insurance proceeds Until Lender has had an opportunity to inspect such Property to ensure the workhas been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for lie repairs and restoration in a single payment or in a series of progress payments ars the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties. retained by Borrower shall not be paid out of the insurance proceeds mid shall be die sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due, with the excess. if any, paid to Borrower. Such insurance proceeds shalt be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may negotiate 1md settle the claim.The 30 -day period will begin when the notice is given. In either event, or if Lender acquires the Property wider Section 22 or otherwise, Borrower berate w y assigns to Lender (a) Borrower's rights to any insurance proceeds in an antowit not to exceed the amounts unpaid trader the Note or flus Security Instrument- and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lander may use the insurance proceeds either to repair or restore the Properly or to pay amounts unpaid under the Note or this Security Instrument. whether or not then due, G. Occupancy. Borrower shall occupy. establish, and use the Property as Borrower's principal residence within 00 days atter the execution of this Securit Instrument and shall continue to occupy the Property as Borrower's principal residence for w least ane year after the dtue of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably vvidilteld. or unless extenuating circumstances exist which are beyond Borrower's control. N=RRRSMZgIe Family Fannie MaelFn ie Mac UNIFORM WSTRUMiNT Foam 3ra 1101 Van D 4MRr{NS) (1105).00 Writers W.,, Fnannial Samina Page Gal 15 IUII III IN Hill 11111111111111111111 loll IIIII IIIII IIIII 111111111111 0000NE9Tr2786